Maverick Capital Ltd. lessened its stake in shares of Waste Connections Inc (NYSE:WCN) by 29.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,716,045 shares of the business services provider’s stock after selling 1,581,308 shares during the period. Waste Connections makes up approximately 3.3% of Maverick Capital Ltd.’s holdings, making the stock its 12th largest holding. Maverick Capital Ltd.’s holdings in Waste Connections were worth $263,616,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in WCN. TD Asset Management Inc. grew its position in Waste Connections by 0.8% in the 3rd quarter. TD Asset Management Inc. now owns 4,852,132 shares of the business services provider’s stock valued at $338,619,000 after acquiring an additional 36,360 shares during the last quarter. Findlay Park Partners LLP grew its position in Waste Connections by 2.1% in the 3rd quarter. Findlay Park Partners LLP now owns 4,606,589 shares of the business services provider’s stock valued at $322,277,000 after acquiring an additional 94,022 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Waste Connections by 28.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,856,170 shares of the business services provider’s stock valued at $273,557,000 after acquiring an additional 864,008 shares during the last quarter. Capital International Investors grew its position in Waste Connections by 9.6% in the 3rd quarter. Capital International Investors now owns 3,288,000 shares of the business services provider’s stock valued at $230,028,000 after acquiring an additional 288,900 shares during the last quarter. Finally, BlackRock Inc. grew its position in Waste Connections by 1.7% in the 4th quarter. BlackRock Inc. now owns 2,875,819 shares of the business services provider’s stock valued at $204,009,000 after acquiring an additional 47,052 shares during the last quarter. Institutional investors own 80.80% of the company’s stock.
Waste Connections Inc (NYSE:WCN) opened at $70.78 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $18,889.00, a price-to-earnings ratio of 33.12, a PEG ratio of 2.57 and a beta of 0.16. Waste Connections Inc has a 12-month low of $56.81 and a 12-month high of $74.20.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Tuesday, February 27th. Waste Connections’s dividend payout ratio (DPR) is currently 25.65%.
In other Waste Connections news, Director Michael W. Harlan sold 11,500 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $72.03, for a total value of $828,345.00. Following the completion of the sale, the director now directly owns 42,685 shares in the company, valued at $3,074,600.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP David Eddie sold 6,071 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $71.06, for a total value of $431,405.26. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.
Several brokerages have commented on WCN. Zacks Investment Research downgraded Waste Connections from a “buy” rating to a “hold” rating and set a $78.00 price objective on the stock. in a research report on Saturday, January 13th. BMO Capital Markets began coverage on Waste Connections in a research report on Monday, December 11th. They issued an “outperform” rating and a $79.00 price objective on the stock. Bank of America initiated coverage on Waste Connections in a research report on Thursday, December 28th. They issued a “buy” rating and a $80.00 price objective on the stock. Stifel Nicolaus reissued a “buy” rating and set a $85.00 price target on shares of Waste Connections in a research report on Thursday, January 4th. Finally, Credit Suisse Group set a $80.00 price target on Waste Connections and gave the stock a “buy” rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $78.22.
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About Waste Connections
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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